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Straightup Resources Inc
Symbol ST
Shares Issued 16,138,001
Close 2020-07-06 C$ 0.26
Recent Sedar Documents

Straightup receives exploration permits for 3 projects

2020-07-07 09:07 ET - News Release

Mr. Matthew Coltura reports

STRAIGHTUP ANNOUNCES RECEIPT OF EXPLORATION PERMITS FOR ITS RLX NORTH, RLX SOUTH, AND BELANGER PROPERTIES, RED LAKE DIVISION, ONTARIO, CANADA

Straightup Resources Inc. has received exploration permits for its RLX North, RLX South and Belanger properties in the Red Lake mining division, Ontario, Canada. The permits allow substantial exploration activities on each of the properties, including mechanical stripping of overburden, bedrock trenching, line cutting for geophysical activities, and diamond drilling. The timely receipt of these permits will allow for efficient exploration program planning, and for a more timely flow of field activities. The company is in the process of planning its field programs, and anticipates mobilizing its exploration teams in the near future.

The Company is also pleased to report that diamond drill core from drilling at the Belanger Property in the 2002 has been located. The core has been stored under cover in secure facilities in Kenora, Ontario and is in excellent condition. The Company is moving the core to its own storage facilities, where the Belanger technical team will resample previously sampled intervals for historical data confirmation, and will also split and sample the core that was not analyzed in the previous campaign. The core will also be relogged and interpreted in light of modern studies and additional understanding of mineralization controls in the Red Lake region.

RLX North, RLX South and Belanger properties

The Belanger Property is one of three acquired in the historic Red Lake District. The RLX North and RLX South Properties are contiguous to and partially surround Great Bear Resource Ltd's Sobel Property.

The Belanger property comprises 2,100 hectares and is located 2.2 km north of Infinite Ore Corp.'s Garnet/Arrow deposit.

Historic exploration on the Belanger property identified two distinct zones of interest as follows:

  • The Hemming Showing- part of a strong deformation zone that tracks NE through the center of the property;
  • The Williamson Showings - three significant gold-copper occurrences over an interpreted strike length of 600 meters. These were historically referred to as Trench "C", Trench "D" and Trench "E".

The reader is referred to the Straightup news release dated June 11, 2020 for additional historic detail regarding results of exploration.

With permits in hand and the availability of newly discovered core, the Company plans to incorporate historical data review and reinterpretation followed by a field exploration program that is currently being planned. More detail regarding the upcoming exploration programs at RLX North, RLX South and the results of core logging and sampling at Belanger, will be released upon completion of the core and data review.

Qualified Person

John E. Hiner, Licensed Geologist and Registered Member of SME (Society for Mining, Metallurgy & Exploration), a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Hiner is not independent of the Company as he is a director of the Company, and holds stock options in the Company.

About Straightup Resources

Straightup is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit. In addition to the Red Lake Division properties, Straightup intends to conduct on the Hi-Mars Property. The Hi-Mars Property consists of 11 contiguous mineral titles covering an area of 1,788 hectares located approximately 17 kilometres northeast of the City of Powell River in the southwest British Columbia, Canada, within the Vancouver Mining Division.

We seek Safe Harbor.

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